Commutations & Centrelink
What is a commutation payment? Commutations are a withdrawals made from the capital supporting an account based pension. Commutations may affect Centrelink entitlements. The extent to which commutations affect Centrelink entitlements depends on a few factors, which...Centrelink Schedule Example
The Centrelink schedule example shown below includes the information required by Centrelink/DVA for recipients who have an income stream product. The details in a Centrelink schedule can be used to complete the Centrelink Details of an income stream product (SA330)...
What is a Centrelink Schedule?
A Centrelink Schedule is generally a one page document that is used to inform Centrelink of the various components relating to your superannuation income stream. This enables them to asses the amount of the income stream that should be assessed for ‘income...Pension Refresh Strategy
A pension refresh strategy involves commuting an existing pension and commencing a new pension to include contributions accumulated since the original pension was initially established. Starting a superannuation pension does not prohibit a person from continuing to...Severe Financial Hardship Superannuation
Early access to superannuation via the Severe Financial Hardship Superannuation provisions is a complex area of Superannuation law. It is imperative that you consult a professional superannuation adviser and the trustee of your superannuation fund prior to withdrawing...Centrelink Superannuation Assets Test
The Centrelink Assets Test for superannuation savings is determined by your age and the value of your super accumulation and pension assets. Centrelink applies both an Assets Test and an Income Test. The test that results in you receiving the lower social security...What age can you retire in Australia?
What age can you retire? This is a strange question. I think it is asked either because people have different interpretations of the word ‘retire’ or because the majority of us so ingrained with the 3 common stages of life – learn, earn, retire. We...Lump Sum Super Withdrawals & Centrelink
The Centrelink treatment of lump sum withdrawals from super is important to understand. There are a number of ways that lump sum withdrawals can be made from super and each way is assessed by Centrelink differently. Making one lump sum withdrawal from super has the...Deductible Amount Definition
The deductible amount definition for Centrelink and DVA purposes refers to the amount of income received from an account based pension, allocated pension or defined benefit pension that is not assessed under the ‘Income Test’ When completing documentation...
Download our 6-step Super Check & take control of your super
